Oruka Therapeutics (NASDAQ:ORKA) Sees Large Volume Increase - Should You Buy?

Shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 102,076 shares were traded during mid-day trading, an increase of 39% from the previous session's volume of 73,478 shares.The stock last traded at $22.58 and had previously closed at $21.94.

Wall Street Analyst Weigh In

ORKA has been the topic of a number of analyst reports. Lifesci Capital began coverage on Oruka Therapeutics in a research report on Monday, September 16th. They set an "outperform" rating and a $41.00 price target on the stock. Leerink Partners assumed coverage on shares of Oruka Therapeutics in a report on Tuesday, September 17th. They issued an "outperform" rating and a $44.00 target price on the stock. Stifel Nicolaus assumed coverage on Oruka Therapeutics in a research note on Friday, October 11th. They issued a "buy" rating and a $49.00 price objective on the stock. Leerink Partnrs raised shares of Oruka Therapeutics to a "strong-buy" rating in a research note on Tuesday, September 17th. Finally, TD Cowen assumed coverage on shares of Oruka Therapeutics in a report on Monday, September 16th. They issued a "buy" rating for the company. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $43.17.

Oruka Therapeutics Stock Performance

The company has a 50-day moving average price of $25.09. The company has a market capitalization of $789.60 million, a P/E ratio of -3.50 and a beta of 0.78.

Hedge Funds Weigh In On Oruka Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC bought a new position in Oruka Therapeutics during the third quarter valued at about $343,000. The Manufacturers Life Insurance Company bought a new stake in shares of Oruka Therapeutics in the third quarter valued at $1,037,000. Wellington Management Group LLP purchased a new position in shares of Oruka Therapeutics during the 3rd quarter valued at $2,013,000. Janus Henderson Group PLC purchased a new position in shares of Oruka Therapeutics during the 3rd quarter valued at $5,840,000. Finally, Redmile Group LLC bought a new position in shares of Oruka Therapeutics during the 3rd quarter worth $10,091,000. 56.44% of the stock is owned by hedge funds and other institutional investors.

About Oruka Therapeutics

ARCA biopharma, Inc, a biopharmaceutical company, develops genetically-targeted therapies for heart failure and cardiovascular diseases. It is positioned to bring personalized therapies for the treatment of cardiovascular disease, through the use of genetics. Complementing the Company's cardiovascular science, ARCA's management team has significant experience in developing and commercializing cardiovascular products.

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